Crazy housing prices in Taipei

There’s something seriously wrong with the real estate market in Taiwan. MM informed me today that it is the most difficult city to buy a house. In the world. Yes, Taipei, Taiwan topped the list comparing average salary to housing price. New Taipei City also made the list at number 3. Vancouver’s number 4. Those are honestly some grim looking numbers, so there is something wrong with the system. Prices for everything in Taiwan (food, living…) just keep going up, yet the only thing that has not increased is wage. So basically the rich just keep getting richer, and the poor poorer. I wonder what Taiwan needs to get its economy back up?! Wage in Taiwan is 3x lower than wage in North America, yet many things cost the same. It’s not like brand name products for clothing and food will cost less in Taiwan just because we make less here, and many food items (especially imported products) cost so much more than in Canada. So imagine buying Starbucks in Taiwan: one grande vanilla latte for NTD120 (equiv to CAD4). That’s the same as in Canada, right? Wrong. CAD4*3 = CAD12. This takes into account how the wage in Taiwan is 3x less than in Canada. You just bought a CAD12 cup of coffee. This is why Starbucks doesn’t do too well in Taiwan.

I really hope that the trade agreement with China will help Taiwan’s economy flourish like they keep saying it will. But you know what they say: the Devil’s in the details.

Happy Friday! QB got a haircut because his fur was too tangled. He looks like an oversized rat now. Poor darling: